Q.3 In the year 2013, PQR Corporation had the following items of income, expense, gains, and losses: (2 mark)

Particulars Amount in $

Sales 2,000,000

Account payable 600,000

Interest on savings account 56,000

Plant & Machinery 600,000

Equipment 300,000

Operating expenses 400,000

Furniture and Fixture 400,000

Gain on sale of AT&T stock 24,000

Loss on sale of IBM stock 60,000

Building 400,000

Motor vehicle 200,000

Cost of sales 1,080,000

What is taxable income of PQR Corporations for the year?

PLEASE NO HAND writing. Thank you.